The Economic Origins Of Cryptocurrencies

The launch of Bitcoin in 2009 represents one of the most disruptive phenomena in financial history, establishing a unique link between computer science and an economic tradition opposed to the mainstream. To understand Bitcoin’s importance, it is not sufficient to analyze its cryptographic architecture alone; it is essential to delve into the intellectual roots that shaped its existence, primarily found in the Austrian School of Economics. The conceptual origins of Bitcoin date back to 1871, with the publication of Principles of Economics by Carl Menger. Menger is known for resolving the paradox of value (also known as the diamond–water paradox),…